AMD has unveiled its first set of quad-core processors, three months after its original launch date. This 'complicated' design that resulted in the delay and puts the chip maker a full generation behind its archrival in terms of chip manufacturing processes.

That triangle is no longer a reality I'm afraid. That's one reason why Intel rushed out they're quad core design in the first place.

While Intel was touting the Itanic as the only 64bit solution you would ever need, AMD brought out the x86-64bit extensions. What happened? Everybody, including Dell and MS, jumped on board the AMD train.

Now Dell, IBM and Sun sell Opteron based servers, it seems like MS is scaling down support for the Itanium and Intel has been rushing out x86-64 chip designs to try and regain some of the mind and market share they lost to AMD.

Sure, AMD are not in a position to take first place from Intel. But they certainly have taken away much of what used to be a rock solid Intel market.
Sure,

Microsoft really didn't jumped on AMD64, they seemed to pretty much ignore it until Intel went in and started using the instructions aswell. Sucks for AMD and pretty bad by Microsoft but it's what happened.

I hate when people say "omg AMD are so dead now, Intel rules!", wtf, Intel just have the lead for a short while, it's not that big of a deal. Also AMD have been in way worse positions earlier considering the started from nothing, didn't they? So sure it might not be as good of a position as it was 1-2 years ago but it's still better than what they started with. This is not the end of the world as we know it.

Intel won't be afraid, they'll just fall back on the old MS > Intel > Dell love triangle and ignore AMD.

Those days are over: dell now offers AMD based computers not only with Windows but also with Linux installed. Intel should be afraid becasuse they will not be able to become a total monopolist
where they can jack up the prices as high as they want,not with AMD around, they will make sure of that.